The move at $SNXX 20 wasn’t just following the drop—it was driven through by new shorts.
Massive volume of 35M drove the price from 5.03 to 4.62, while OI climbed from 5.7 million to nearly 5.98 million. Price fell as positions continued to build—short sellers were paying to push the market down, not just riding a low-volume decline. Meanwhile, $BTC fell by less than 1%, so the outsized damage came from leveraged positions in the asset itself, not from the broader market dragging it down.
Funding rates turned slightly positive, while RSI fell to around 27. A rebound depends on whether price can reclaim the 5.03 platform it fell from; if not, this remains a short-led liquidation phase.
#币安切断SignalPlus接入 #Ethereum spot ETFs end seven consecutive days of outflows
Massive volume of 35M drove the price from 5.03 to 4.62, while OI climbed from 5.7 million to nearly 5.98 million. Price fell as positions continued to build—short sellers were paying to push the market down, not just riding a low-volume decline. Meanwhile, $BTC fell by less than 1%, so the outsized damage came from leveraged positions in the asset itself, not from the broader market dragging it down.
Funding rates turned slightly positive, while RSI fell to around 27. A rebound depends on whether price can reclaim the 5.03 platform it fell from; if not, this remains a short-led liquidation phase.
#币安切断SignalPlus接入 #Ethereum spot ETFs end seven consecutive days of outflows
